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• 1. There were four steps in the GPS revolution. First new technologies were developed and became readily available; second, __________; third, competitive forces developed new products and services; and finally consumer changed becoming "geo-enthusiasts."

Regulatory changes were made allowing cell phone frequencies and former military technologies available for commercial use

• 3. Which of the following statements regarding environmental scanning is the most accurate

• 4. You are the director of marketing for Littleton Hospital. You are doing an environmental scan to help create a five-year marketing plan for the hospital. Which of the following environmental trends should you consider to be the most important?

The number of baby boomers in your geographic area will increase during the next five years

• 7. Studies of the __________ characteristics of the U.S. population suggest several important trends. Generally, the population is becoming larger, older, and more diverse. Marketers are developing products that will appeal to these target markets.

• 10. Generation X is the label often given to

• 11. This generation is known as a savvy and demanding group of consumers who feel personally responsible for making a difference in the world. They also have an extraordinary optimism about their potential for fame and fortune

• 13. Minority racial and ethnic groups (excluding Caucasians) are concentrated in geographic regions of the United States. Native American groups are heavily concentrated in

• 14. HSBC Bank International Ltd. (Europe's largest bank) selected its advertising agency because that agency was "always sensitive to the possibility that something might not translate well or may offend superstitions about colors or numbers." Its advertising agency was responsive to

• 18. Wal-Mart has set a goal to reduce packaging on the products it carries. This change is an example of how they are responding to trends in customer values to

• 19. Many consumers are committed to brands with a strong link to social action. An example of this would be

• 20. Geek Squad set out to provide timely and effective help with all computing needs regardless of the make, model, or place of purchase. Employees were called "agents" and wore uniforms with a Geek Squad logo to create a "humble" attitude that was not threatening to customers. Agents drove a black-and-white

• 21. Economy refers to

• 22. Policy makers at the Federal Reserve in the United States level believe it takes a far bigger swing in unemployment to affect inflation than it did 25 years ago. Now, when inflation fluctuates, they are more likely to blame other factors such as the price of oil. This is an example of a(n) __________ environmental force.

• 28. If taxes rise at a faster rate than income does, consumers most likely

• 29. Discretionary income refers to

• 30. Emily had an excellent year as a saleswoman in 2010. She earned $97,000. She paid $17,000 for "necessities" such as mortgage, food, and clothing. She was given a six-week all expenses paid vacation by the company for her sales performance that had a value of $9,000. Her state and federal income taxes totaled $24,000. What was her discretionary income?

• 31. Last year the Parker family used to eat at nice restaurants almost four times a week. Even though Mr. Parker got a 5% raise, the cost of living increase this year was 7%. As a result the family eats most of their meals at home, dining out only four times a month. This reflects

• 33. Technological advances are difficult to predict, however, four new technologies that are expected to have impact on marketing within the next few years include.

• 34. Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed. This is an example of how __________ help(s) to improve or replace existing products and companies.

• 39. In marketing, the four basic forms of competition refer to

• 40. The form of competition in which ever company has a similar product is referred to as

• 41. Paul Avery is a salesperson at the only Ford automobile dealership in Wausau, Wisconsin. However, there are several other auto dealerships in town, offering both domestic and foreign cars and trucks. Paul works hard to keep his customers satisfied because he knows that if his customers are unhappy, they can simply buy a car from one of the many other comparable dealers in Wausau. This is an example of

• 49. The first major federal legislation passed to prevent contracts, combinations, or conspiracies in restraint of trade in the United States was the

• 50. The purpose of the Clayton Act is to

• 51. The __________ makes it unlawful to discriminate in prices charged to different purchasers of the same product, where the effect may substantially lessen competition or help to create a monopoly.